Luxembourg – 22 July 2013 – Today, July 22nd 2013 marks the go-live date of the Alternative Investment Fund Management Directive (AIFMD) – a European wide directive that is touted to transform the fund management industry. BNP Paribas is now ready for the transition of its asset manager and asset owner clients.
Philippe Ricard, Global head of AFS products, comments: “BNP Paribas Securities Services has significantly invested to ramp up our solutions, and today, we provide the largest depositary network in Europe, having already implemented AIFMD compliant processes across all jurisdictions.
“We are fully set up to support our early mover clients and congratulate those pioneering AIFMs who have already successfully navigated their way to AIFMD compliance. We also encourage those who are yet to start the journey – it’s not as daunting as one might think! AIFMD can provide asset managers with an opportunity to grow their business in Europe, and we have developed dedicated approaches to assist and help our clients do just that by benefiting from our global network. This covers a wide range of areas including fund structuring and cross-border distribution.”
Frédéric Perard, Managing Director BNP Paribas Securities Services Luxembourg, said: “With a strong client focused attitude, we have anticipated and adapted the changes in processes and operational models to service your funds in compliance with AIFMD. The majority of our clients in Luxembourg were early adopters and we continue to help them to be fully operational ahead of this key milestone of the fund industry.
BNP Paribas Securities Services has developed a specific AIFMD transition package to help clients through the process and ensure seamless transition, covering every type of funds in each local jurisdiction. It includes:
– A comprehensive methodology to launch the AIFMD change over for each type of funds (standard, Hedge funds, Private equity or Real Estate funds)
– a practical tool box for the on-boarding process to execute the transition
– a detailed planning ready to be used.
Sarah Decottegnie, BNP Paribas Securities Services Press Officer +44 (0) 207 595 4653
Andrew Achimu, BNP Paribas Group Press Office +44 (0) 7557 114 007
About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees, including more than 150,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
About BNP Paribas Securities Services
BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by the strength of a universal bank. It provides integrated solutions to all participants in the investment cycle including the buy-side, sell-side, corporates and issuers.
Covering over 100 markets, with our own offices in 34 countries, the BNP Paribas network is one of the most extensive in the industry. We bring together local insight and a global network to enable clients to maximize their market and investment opportunities worldwide.
Key figures as of 31 March 2013: USD 7,113 billion assets under custody, USD 1,314 billion assets under administration, 6,979 administered funds and 7,900 employees
BNP Paribas Securities Services is a société en commandite par actions (partnership limited by shares) incorporated in France, with limited partners with limited liability and one general partner with unlimited liability, with its registered office at 3, rue d’Antin – 75002 PARIS – Paris Trade Register B552 108 011 RCS.
BNP Paribas Securities Services is authorised and supervised by the Autorité de Contrôle Prudentiel (ACP) and by the Autorité des Marchés Financiers (AMF). BNP Paribas Securities Services London branch is authorised by and subject to limited regulation by the Financial Services Authority for the conduct of its investment business in the United Kingdom; details on the extent of our regulation by the Financial Services Authority are available from us on request. BNP Paribas Securities Services London Branch is also a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited and Investment Fund Services Limited are authorised and regulated by the Financial Services Authority.BNP Paribas Securities Services, London Branch is registered in England and Wales under No. FC023666.
The services described in this document, if offered in the U.S., are offered through BNP Paribas and its subsidiaries and affiliates. Securities products are offered through BNP Paribas Securities Corp., a subsidiary of BNP Paribas, a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC, the Financial Industry Regulatory Authority, the New York Stock Exchange and other principal exchanges.